Forrester Research, Inc. (NASDAQ:FORR) Short Interest Down 10.9% in October

Forrester Research, Inc. (NASDAQ:FORR) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 321,400 shares, a decline of 10.9% from the October 15th total of 360,800 shares. Based on an average trading volume of 73,400 shares, the short-interest ratio is currently 4.4 days. Currently, 2.8% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, StockNews.com upgraded Forrester Research from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th.

Institutional Trading of Forrester Research

Several hedge funds and other institutional investors have recently made changes to their positions in FORR. Kent Lake Capital LLC bought a new stake in shares of Forrester Research during the first quarter worth about $11,473,000. Ballentine Partners LLC bought a new stake in Forrester Research in the second quarter valued at approximately $4,271,000. Acadian Asset Management LLC boosted its holdings in Forrester Research by 511.8% in the second quarter. Acadian Asset Management LLC now owns 230,848 shares of the technology company’s stock valued at $3,940,000 after acquiring an additional 193,116 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in Forrester Research in the third quarter valued at approximately $3,119,000. Finally, Millennium Management LLC boosted its holdings in Forrester Research by 134.7% in the second quarter. Millennium Management LLC now owns 274,440 shares of the technology company’s stock valued at $4,687,000 after acquiring an additional 157,510 shares during the last quarter. 55.20% of the stock is currently owned by institutional investors.

Forrester Research Trading Down 3.8 %

Shares of NASDAQ:FORR traded down $0.63 during midday trading on Friday, hitting $16.09. 95,404 shares of the stock were exchanged, compared to its average volume of 77,120. The stock has a market capitalization of $305.71 million, a price-to-earnings ratio of -45.97, a P/E/G ratio of 1.30 and a beta of 0.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 0.98. The business’s 50-day moving average price is $16.62 and its 200 day moving average price is $17.55. Forrester Research has a 12 month low of $14.38 and a 12 month high of $27.89.

About Forrester Research

Forrester Research, Inc operates as an independent research and advisory company in the United States and internationally. The company operates in three segments: Research, Consulting, and Events. The Research segment primary subscription research services include Forrester Decisions, Forrester Research, and SiriusDecisions Research, which are designed to provide business and technology leaders with a proven path to growth through customer obsession.